Been Through Depression, Can I Still Get Life Insurance? – Attingo Blog
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Been Through Depression, Can I Still Get Life Insurance?

Been Through Depression, Can I Still Get Life Insurance?

Insurers in Canada can turn down people who’ve had mental health issues or charge higher premiums.
Have you or someone you know had a mental health issue?
Read on and find out how you can get affordable life insurance coverage.

Why Insurers Differentiate

One in five Canadians has had a mental health issue at some point in their lives. However, the Ontario Human Rights Code gives insurers leeway to differentiate prospective clients based on their past medical histories. If you’ve sought counseling for work stress, or to help you through the loss of a loved one, it’s sufficient grounds for differentiation. But section 22 of the Code puts a condition. The basis for differentiation must be reasonable and on bona fide grounds.

How Can You Get Affordable Coverage?

Fortunately, insurers no longer follow outdated interpretations of mental health. They have a modern perspective and products that reflect this. 

Don’t just pick the cheapest policy available online. Reach out to one of our experienced advisors who’ll give you the attention you need.

The agent will likely ask you about the diagnosis and the treatment of any mental health issues. Some advisors will want to know more about the episodes. Don’t be embarrassed about your medical history. Instead, be well-armed with the information they need. Insurers use this information to weigh the frequency and severity of the condition. 

You must also be open and honest. 

If you’ve not had a recent episode, chances are, you’ll get a quote at standard rates. On the other hand, if you’ve had a recent episode, the rates might be slightly higher. But all is not lost. If you remain episode-free, you can reach out to an advisor at a later date and review the policy.

So, you can get life insurance, even with a history of mental health issues. Remember, insurers are different, there’s no one-size-fits-all so shop around.

Get your quote easily here.


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